Abstract: Structural and magnetic properties of Nd15Fe70T15Nδ(T=V, Mo) alloys, made by mechanical alloying (MA) followed by heat-treatment and nitriding, have been investigated systematically.Effects of annealing temperature on the structure and magnetic properties of the materials were studied by means of X-ray diffraction, AC susceptibility and high field magnetization measurements. Under pure argon atmosphere, the optimum temperatures for the heat treatment are found to be 75 and 850℃ for Nd15Fe7015Nδ and Nd15Fe70Mo15Nδ respectively. Correspondingly, the following magnetic properties are achieved : (1) Nd15Fe70V15Nδ:Br=0.63 T,,HC=8.01kA/cm (10.1 kOe), (BH )max=50.3 kJ/m3 (6 32 MGOe), (2) Nd15Fe70Mo15Nδ :Br=0.42 T. iHc=5.6 kA/cm (7.4 kOe), (BH )max=26.6 kJ/m3 (3.34 MGOe)